Understanding Market

Understanding
the Market and

Market Analysis

Surya Raghu
WIPO EIE Project NaJonal Workshop 1

Bangkok, Thailand
June 12-‐16, 2017
WIPO EIE Workshop

Bangkok, June 12-‐16, 2017 © S. Raghu 1
MoJvaJon
TTOs and Inventors should have some idea of markets..
WIPO EIE Workshop

OUTLINE
1. Knowing the customer and market
2. Knowing the Competition and Entry Barriers
3. Business Model Development
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The Product
Is Your Idea
a Solution to a Problem or a solution

looking for a problem?
WIPO EIE Workshop © S. Raghu 4

Bangkok, June 12-‐16, 2017
Knowing your Customer
Customer

vs

Consumer?
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Consumer Behaviour
"The study of individuals, groups, or organizations and the processes they

use to select, secure, use, and dispose of products, services, experiences,
or ideas to satisfy needs and the impacts that these processes have on the
consumer and society."
- excerpts from Dr Lars Perner University of Southern California)
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Consumer Behavior
External Factors External Factors Internal Factors

Social Personality
Culture Needs
Family Internal Factors MoJves
Business AZtude
Economic PercepJon
Decision
Learning

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Why Study Consumer Behavior?
•  Marketing strategy
Towards better marketing campaigns
•  Public policy
Recycling, phones and driving, smoking, alcohol
consumption, certain medications, pollution, etc.
•  Social media marketing

Getting ideas across to people through social media
•  A better consumer
Educating the consumer
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Knowing Your Market
The market analysis is attempting to answer the
questions:
- To whom? (Who is the target market)
- How many? (Size of market)
- At what price? ($ Value of the market)
These are simple questions, with often complex

answers and a high level of uncertainty.
WIPO EIE Workshop

Bangkok, June 12-‐16, 2017 Adapted from C Moody I©
sis S . Raghu 2009
Enterprise 9
Market Pull and Technology Push
(Market pull -‐ technical soluJon for an exisJng problem)
3nethra – An intelligent pre-‐screening Ophthalmology device

hap://forushealth.com/forus/products

Market Pull and Technology Push
Technology push? (new or changed market))
CompeJJon Unknown!
Product Type and Market Size
Custom products (special electronic equipment,
jewelry) - mostly contract jobs
Small volume 500 – 5000? Depends on industry
Large volume products 50,000 – 50,000,000?
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Market Segments
• Demographics
• Geographics
• Behavioral
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Market Demographics
Forbes, 2013
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Market Demographics
Demographic Segments
•  Institutional or individual users
•  Age group - Gen Y, Gen X, Baby
Boomers and Seniors, males or
females or both)
•  Tech savvy?
•  Geographic location – village, small
town, city, country.
•  Value of your product to money, space
and time.
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Geographical Distribution of Market
hap://www.tc.gc.ca/eng/civilaviaJon/publicaJons/tp13549-‐
chapter5-‐2143.htm

Behavioral Segments
(Psychographics)
Personality

Values

AZtudes

Lifestyles

Interests
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Market Penetration
What percentage of market do you plan to

capture?
What is the entry barrier?
How will you prevent competition from getting into

your space?
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Market PenetraJon
Total Market Size
Serviceable Market Size
Target Market
Market
Share
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The First Customer
First customer / First adopter?
Route (access) to the first customer?

Entry Barrier
CompeJJon
You
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Knowing your CompeJJon
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Business Model
New idea or
technology
Economic Beneﬁt
Business Model
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© S. Raghu 23
Why New Products Fail
hap://www.bioplanassociates.com/services/newproduct.htm

Summary: The Market
Your Idea (solution to a problem) --à Your Product?
Why does the market need this? (Market pull (technical

solution) or Technology push? (new or changed market))
Who will buy it (customer profile – age group, profession,

field of application, decision levels, geographical
distribution…?)
How many people/organizations will buy it? (Market size?)

Exercise
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Understanding

the Market and

WIPO EIE Workshop

TTOs and Inventors should have some idea of markets..

WIPO EIE Workshop

1. Knowing the customer and market

2. Knowing the Competition and Entry Barriers

3. Business Model Development

WIPO EIE Workshop

a Solution to a Problem or a solution

WIPO EIE Workshop © S. Raghu 4

WIPO EIE Workshop

"The study of individuals, groups, or organizations and the processes they

- excerpts from Dr Lars Perner University of Southern California)

WIPO EIE Workshop

WIPO EIE Workshop

• Social media marketing

- To whom? (Who is the target market)

- How many? (Size of market)

- At what price? ($ Value of the market)

These are simple questions, with often complex

WIPO EIE Workshop

3nethra – An intelligent pre-­‐screening Ophthalmology device

WIPO EIE Workshop © S. Raghu 10

Small volume 500 – 5000? Depends on industry

Large volume products 50,000 – 50,000,000?

WIPO EIE Workshop

WIPO EIE Workshop

WIPO EIE Workshop

WIPO EIE Workshop

WIPO EIE Workshop © S. Raghu 16

What percentage of market do you plan to

What is the entry barrier?

How will you prevent competition from getting into

WIPO EIE Workshop

Total Market Size

Serviceable Market Size

First customer / First adopter?

Route (access) to the first customer?

WIPO EIE Workshop © S. Raghu 20

WIPO EIE Workshop

WIPO EIE Workshop

WIPO EIE Workshop

WIPO EIE Workshop © S. Raghu 24

Why does the market need this? (Market pull (technical

Who will buy it (customer profile – age group, profession,

How many people/organizations will buy it? (Market size?)

WIPO EIE Workshop © S. Raghu 25

WIPO EIE Workshop

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•  Social media marketing

3nethra – An intelligent pre-‐screening Ophthalmology device